-0.05(-0.36%)

0.0000(-0.0000%)

Benefitfocus Announces Secondary Offering

CHARLESTON, S.C., Feb. 26, 2019 (GLOBE NEWSWIRE) -- Benefitfocus, Inc. (BNFT), a leading cloud-based benefits management platform and services provider, today announced that certain funds managed by Goldman Sachs & Co. LLC and Mercer LLC intend to offer for sale in an underwritten secondary offering an aggregate of 5,704,758 shares of the Company’s common stock. In addition, the selling stockholders have granted the underwriters a 30-day option to purchase up to 855,714 additional shares of common stock at the same price. Benefitfocus will not receive any proceeds from the sale of the shares by the selling stockholders in this offering and the offering will not impact the number of shares outstanding.

A shelf registration statement (including a prospectus) relating to the offering of common stock was filed with the Securities and Exchange Commission on February 26, 2019 and became automatically effective. Before you invest, you should read the registration statement, prospectus, prospectus supplement and other documents Benefitfocus has made available with the SEC for information about Benefitfocus and the offering. You may obtain these documents free of charge by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, copies of the prospectus and accompanying prospectus supplement, when available, may be obtained from: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, phone: 866-803-9204, email: prospectus-eq_fi@jpmchase.com; Goldman Sachs & Co. LLC, Prospectus Department, 200 West Street, New York, NY 10282, telephone: 1-866-471-2526, facsimile: 212-902-9316 or by emailing Prospectus-ny@ny.email.gs.com; and BofA Merrill Lynch, 200 North College Street, 3rd Floor, Charlotte, NC 28255-0001, Attn: Prospectus Department, e-mail: dg.prospectus_requests@baml.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or other jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

About BenefitfocusBenefitfocus (BNFT) unifies the entire U.S. benefits industry on a single technology platform to protect consumers' health, wealth and lifestyle. Our powerful cloud-based software, data-driven insights and thoughtfully-designed services, enable employers, insurance brokers, carriers and suppliers to simplify the complexity of benefits administration and deliver a world-class benefits experience.

Safe Harbor StatementExcept for historical information, all of the statements, expectations, and assumptions contained in this press release are forward-looking statements. Actual results might differ materially from those explicit or implicit in the forward-looking statements. Important factors that could cause actual results to differ materially include: risks regarding whether we can complete the offering and regarding its impact on the trading price of our common stock; potential volatility; risks associated with our business and the other risk factors set forth from time to time in our registration statement and other SEC filings, copies of which are available free of charge within the Investor Relations section of the Benefitfocus website at http://investor.benefitfocus.com/sec-filings or upon request from our Investor Relations Department. Benefitfocus assumes no obligation and does not intend to update these forward-looking statements, except as required by law.